Kervan Gıda Posts TRY 77 Million Net Profit in Second Quarter

Kervan Gıda, Turkey's leading soft confectionery manufacturer with exports to 85 countries, reported second-quarter 2022 net profit of TRY 77 million, exceeding market expectations of TRY 57 million. Kervan Gıda, gaining momentum from its public offering, announced its second-quarter and first-half 2022 financial results, surpassing production and export volumes. According to the disclosure made to the Public Disclosure Platform (KAP); the company's second-quarter 2022 net profit was TRY 77 million. First-half 2022 consolidated sales revenue reached TRY 2.033 billion. Thanks to rising sales revenues and steady transformation efforts aimed at increasing productivity, the company's consolidated EBITDA margin also stood at 14.2%.

We increased profitability by ensuring customer satisfaction

Kervan Gıda General Manager Burhan Başar, evaluating the first-half results, noted that the company's profitability exceeded expectations. Burhan Başar continued as follows: "We observe changes in consumption habits and develop new products and solutions to address those needs. In the first half of the year, we increased profitability by ensuring customer satisfaction. We have high confidence that we will achieve our targets above expectations by further increasing profitability by year-end."

Target: Top five globally

Kervan Gıda started the year on a high note by entering the "2022 Global Top 100 Confectionery Companies" list at 82nd position. Subsequently, it ranked 65th in the "Turkey's Most Valuable Brands-Turkey 100" research prepared by Brand Finance. Additionally, this year it ranked 429th in the ISO 500 Survey, which lists Turkey's 500 largest industrial enterprises. Burhan Başar said that Kervan Gıda has been focused on production, branding and growth since its establishment, and its next objectives are to enter the world's top five in its categories through value-added product understanding and productivity initiatives at its facilities in Turkey and Poland.   About Kervan Gıda, which has the highest soft confectionery production capacity in Turkey, was founded in 1994. In 1995 it began gum production under the 'Keloğlan' brand, and in 1999 it started soft confectionery production. The brand, with over 25 years of experience in the sector, currently operates in 10 different categories across a total of 70,000 square meters of enclosed production area, with one facility in Istanbul and two in Akhisar. Kervan Gıda, which exports to 85 countries and operates in the United States, United Kingdom, Germany and Russia, reaches two million people daily with its products. www.kervangida.com